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EUR/SEK firmer, in 3-week highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Swedish krona is sharply lower vs. its European peer on Thursday, now sending EUR/SEK to multi-week peaks above the 9.3000 handle.

    EUR/SEK firmer on EUR, CPI

    The cross has abruptly rebounded from the 9.25 area after headline consumer prices in the Nordic economy has risen 0.1% on a year to December, while the CPI at constant interest rates rose at an annual pace of 0.9%, a tad below expectations at 1.0%.

    Adding to the daily upside, the single currency has gathered further traction after some ECB Council members showed scepticism over the possibility of further ECB easing.

    EUR/SEK levels to consider

    At the moment the cross is up 0.33% at 9.3042 and a surpass of 9.3239 (100-day sma) followed by 9.3437 (200-day sma) and finally 9.3832 (high Dec.13). On the other hand, the next support lines up at 9.2334 (20-day sma) followed by 9.1173 (low Dec.29) and then 9.0904 (low Jun. 28).
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